February 1, 2012 Comments Off on Greatest Benefit of Creating a Power of Appointment
by: Raymond Sheffield A power of appointment can be an effective estate planning technique, facilitating how your property may ultimately pass to your heirs. There are two types of powers of appointment: general & limited. Both of these powers are the same with one exception: The general power allows the power holder to appoint the […]
August 3, 2011 Comments Off on MOUNTAIN VIEW CFP ASKS: Aren’t my client records and conversations confidential?
San Jose Estate Planning Attorney Responds: It is not uncommon for financial planners to believe that their conversations and records regarding the information they learn from a client is confidential. In fact, the CFP Board Code of Ethics requires planners to keep client information confidential. However, there are many areas where a financial planner’s documents […]
July 24, 2011 Comments Off on HOW TO PLAN FOR PORTABILITY
What is the proper way to plan for taking advantage of the deceased spouse’s portability exemption amount? I have written previously on portability planning here and here. In traditional estate planning, the client will create an ABC trust where the A Trust is for the Alive Spouse, the B Trust is for the Buried Spouse, […]
July 10, 2011 Comments Off on PORTABILITY POSITIVES
It is easy to find problems with something or to claim that it will not work. Previously, I blogged about the arguments that many attorneys are using against portability in an effort to avoid change. It is much more difficult to champion something, to investigate, and to find a way to explain how something may […]
July 3, 2011 Comments Off on 6 ARGUMENTS AGAINST PLANNING FOR PORTABILITY ON THE FIRST DEATH
6 ARGUMENTS AGAINST PLANNING FOR PORTABILITY It seems like all I hear or read from other lawyers are all of the problems and uncertainties that exist in Portability Planning in the client’s estate plan. Last week I listened to another attorney go on and on about the best course of action to take: “Keep Doing […]
February 14, 2011 Comments Off on 5 TIPS FOR MAKING INTRAFAMILY LOANS
by: Raymond Sheffield One of the best strategies for clients with wealth is to find ways to maximize the value and economic efficiency of that weath in a way that benefits the family without increasing the tax impact on the client’s estate. An intrafamily loan is often an excellent strategy. Loans to the children and […]
January 10, 2011 Comments Off on The Tax Ramifications of Taking Playboy Private
by: Raymond Sheffield Hugh Hefner is purchasing the 30% of Playboy Enterprizes he doesn’t own for an 18% premium. The media is focusing on his age and the poor future propects for the company. They seem to be ignoring the tax aspects of this deal for Mr. Hefner’s family. A publicly traded company is easy […]
January 3, 2011 Comments Off on Who Owns Your Right to Publicity After You Die?
by: Raymond Sheffield Movie actress Ann Francis passed away the other day. So did the oldest Von Trapp Family daughter. This made me think about what might happen to their reputations, or the reputations of people they care about, if private journals or stories about their lives were to be made public. Most estate plans […]
